---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-094382"
form_type: "8-K"
ticker: null
cik: "0001008848"
company_name: "Acorda Therapeutics, Inc."
filed_at: "2024-08-09T23:59:59+00:00"
generated_at: "2026-05-31T10:18:05.919395+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Acorda Therapeutics liquidation plan confirmed; equity cancelled, management replaced

## Summary
- Asset sale to Merz Pharmaceuticals closed July 10, 2024 for $185M.
- Bankruptcy court confirmed Modified First Amended Joint Chapter 11 Plan of Liquidation on August 7, 2024.
- All equity securities cancelled; shareholders receive no distributions under the plan.
- CEO Ron Cohen, CFO Michael Gesser, and other directors/officers deemed resigned on effective date; liquidating trustee appointed.
- Company to dissolve after filing final tax returns and certificate of dissolution.

## SEC filing metadata
- accession: 0000950170-24-094382
- form_type: 8-K
- cik: 0001008848
- company_name: Acorda Therapeutics, Inc.
- filed_at: 2024-08-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 3.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/acor-20240807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-094382
- JSON: https://secwatch.observer/filing/0000950170-24-094382.json
- Plain text: https://secwatch.observer/filing/0000950170-24-094382.txt

## Key facts
- Distress & Bankruptcy
  Acorda Therapeutics, Inc. entered chapter 11 in United States Bankruptcy Court for the Southern District of New York (petition 2024-04-01).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the Southern District of New York
  - Petition: 2024-04-01
  source text: On April 1, 2024, the Company, together with certain of its subsidiaries (together with the Company, the “Debtors”), commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code (the “Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Court”) under the caption In re Acorda Therapeutics, Inc., et al. (the “Chapter 11 Proceedings”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  Peder K. Jensen resigned as Director at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  Kerry Clem resigned as Chief Commercial Officer at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Chief Commercial Officer
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  Thomas Burns resigned as Director at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  Sandra Panem resigned as Director at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  John P. Kelley resigned as Director at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  Neil S. Belloff resigned as General Counsel and Corporate Secretary at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: General Counsel and Corporate Secretary
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  Ron Cohen resigned as Chief Executive Officer at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  Michael A. Gesser resigned as Chief Financial Officer and Treasurer at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Chief Financial Officer and Treasurer
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
- Executive change
  John Varian resigned as Director at Acorda Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: each of Ron Cohen, M.D., Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Thomas Burns, Peder K. Jensen, M.D., John P. Kelley, Sandra Panem, Ph.D., John Varian, members of the Board, and Michael A. Gesser, Chief Financial Officer and Treasurer, Neil S. Belloff, General Counsel and Corporate Secretary, and Kerry Clem, Chief Commercial Officer will each be deemed to have resigned from their respective positions as directors and officers of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.